The U.S. Security Exchange Commission (S.E.C.) approved Bitcoin ETFs in January 2024; since then, they have gained popularity and increased market volume. VanEck’s $HODL is the Bitcoin ETF currently making headlines for its market volume which increases by 2,200% within 24 hours. Meanwhile, a new hybrid meme coin called Galaxy Fox is gaining much recognition as demand for its token, $GFOX, increases. It’s currently nearing a significant milestone of $5 million raised in its ongoing presale.
VanEck Bitcoin ETF ($HODL) Explodes 22x in Volume, Fueled by Retail Investors
On February 20, 2024, VanEck Bitcoin Strategy ETF, with the ticker note $HODL, experienced an unusual rise in volume to over 2,200% within 24 hours. $HODL responded to this incredible growth by trading over $400 million by volume, a 22-fold increase compared to its daily average volume of $17 million.
This rise happened right before an update revealing VanEck’s plans to lower its offering fees from 0.25 to 0.20%. The news inspired many people to buy and sell $HODL, resulting in a remarkable rise in trading volumes. As of February 20, $HODL held approximately $200 million worth of $BTC to become the third-largest ETF in daily volumes behind Grayscale and BlackRock.
According to top crypto analysts, the increased buying and selling of the ETF was particularly fuelled by retail traders. They highlighted that the volumes were derived from approximately 32,000 separate trades made by individuals rather than a single major investor. Analysts also suggested that social media could be a potential cause of the increase in volume.
This rise in $HODL’s trading volume also led to a milestone for Bitcoin ETFs, reaching its highest volume since its approval in January.
$GFOX Token Nears $5M Milestone; Experts Say Buy Token
Galaxy Fox is the Ethereum-based cryptocurrency that draws significant attention in the industry as it aims to raise a groundbreaking $5 million by selling $GFOX in its ongoing presale. With the amount raised in the presale currently stood at almost $4million and demand for its token increasing, many experts have started hinting that the token will become one of the best cryptocurrencies to buy this year.
One key feature that sets Galaxy Fox apart in the industry is its play-to-earn (P2E) game, which allows users to have fun and earn while playing games. The platform’s token also has a deflationary characteristic that helps it to gain value by continuously reducing its circulation.
Galaxy Fox aims to transform the NFT sector by planning to launch 3000 unique NFTs and a vibrant NFT marketplace. The NFTs can be purchased as in-game items to enhance the game’s competitiveness. Users can also trade them in top NFT marketplaces like OpenSea. The Galaxy Fox native marketplace will also enable users to buy and sell all kinds of NFTs in Galaxy Fox’s NFT collection.
Users can also engage in staking activities in the platform, which guarantees them rewards when they hold and stake their $GFOX for an extended period. The staking rewards are usually kept at the Galaxy Fox Stargate, a central hub for reserving distributed rewards.
Galaxy Fox applies a 6% tax for both buying and selling transactions, and the funds generated are allocated to various pools like the treasury, liquidity, and staking pools. This is to ensure that funds flow consistently and effectively in and out of the ecosystem.
Currently, Galaxy Fox is in stage 8 of its presale; its token price is $0.0012178. In the coming days, the token will enter stage 9, delivering an attractive 9% yield from their investment to those who join the presale now.
Conclusion
The remarkable developments surrounding the Bitcoin ETF market, particularly VanEck’s $HODL, clearly indicate that they deserve to be regarded as the top investment choices of the year. Similarly, Galaxy Fox’s journey to reaching the $5 million mark in its presale showcases its strong demand and potential to become one of the best tokens the crypto world has seen.
If you’re looking for a safe and profitable investment this year, take a look at Galaxy Fox! Visit the website and join the telegram community for more updates.
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